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Exclusive: Stadium lures two more developments
TOWNSVILLE’S stadium precinct is set to be the home of two new developments, stimulating more employment opportunities on the site.
The Townsville City Council’s masterplan for the precinct includes a sports rehabilitation centre of excellence and an accommodation block to house international students.
The council will enter a memorandum of understanding with the North Queensland Cowboys for the development of a world- class rehabilitation centre. Mayor Jenny Hall will also use an upcoming visit to China to find a proponent for the construction of an accommodation block for 300 international students.
“It makes perfect sense to masterplan the balance of the stadium site as a whole to deliver a flow of works that provides a sustainable pipeline of local jobs and continuous employment,” Cr Hill said.
TWO new projects are promising to provide more local jobs on the North Queensland stadium site as part of the Townsville City Council masterplan for the precinct.
The council wants to lure more international students to the city with the construction of an accommodation block at the stadium precinct.
It will also enter a memorandum of understanding with the North Queensland Cow- boys to create a world- class sports rehabilitation and excellence centre.
If approved, the centre could accommodate sports administration and training staff as well as housing medical professionals.
Townsville Mayor Jenny Hill plans to visit universities and high schools as part of an upcoming trip to China and would promote the city’s educational opportunities, in particular James Cook and Central Queensland universities.
“I will be travelling to China in a few days and one of my goals is to bring back a proponent who wants to establish a 300- student accommodation block on the remaining land parcel of the stadium precinct,” she said.
“The co- ordinated approach that a masterplan offers is better value for money through a greater economy of scale by servicing up to four projects instead of one.
“It further permits sensible, co- ordinated and cost effective delivery of up to four projects at once.
“For the city to be able to have the additional facilities open when the stadium commences would be terrific.”
Cr Hill said the stadium was always designed to be a catalyst for other projects in the city.
“It makes perfect sense to masterplan the balance of the stadium site as a whole to deliver a flow of works that provides a sustainable pipeline of local jobs and continuous employment,” she said.
The council’s precinct masterplan follows the Pure Projects report which recommended activating the CBD through varying tourism developments and engaging with Townsville residents.
Hilton Hotels last month signed an MOU with the council after expressing interest in developing one of their facilities on the stadium site.
The proposal included a 175- bed hotel run by the Hilton subsidiary DoubleTree.
“We want years of continuous works for local industry, not weeks,” Cr Hill said.
“With interest from Hilton Hotels, adding a centre for excellence and rehabilitation and medium- density accommodation, we are achieving economic activation on the site.
“It is really exciting for the city that we are talking about more than a stadium.”
The MOU negotiations including commercial arrangements will return to the council for determination at the same time as the Hilton Hotel proposal which is expected before December.
THE North Queensland Stadium is expected to bump up house values in city fringe suburbs after the redevelopment of Adelaide Oval sent prices soaring by as much as 65 per cent.
Townsville real estate agents are already reporting an increase in sales volumes near the stadium and buyers increasingly want properties close to the area.
Following the Adelaide Oval redevelopment in the heart of the CBD, between 2008 and 2014 median house prices in suburbs within 5km of the stadium experienced price increases well above the Adelaide average.
Units in the suburb of Keswick, 5km from the Adelaide Oval, rose by 65.5 per cent in the past three years, according to CoreLogic figures and houses in Hilton, 4km from the oval, rose 48.9 per cent during the same time period.
By comparison, median house prices rose across Adelaide by 11.3 per cent and units rose by 17.1 per cent.
Economist Colin Dywer said properties under contract in the suburbs surrounding the stadium had already increased in value and both houses and units had experienced an upturn in sales.
“On Thursday, there was 76 houses listed for sale in suburbs surrounding the stadium,” he said. “Fifteen of these houses were under contract. That is 19.5 per cent of house stock under contract.
“Around 60 per cent of under contract listings were for houses priced under $ 600,000 and the suburbs with the highest activity were South Townsville and North Ward.”
McGrath Townsville managing director Brad Matheson said buyers were becoming in- creasingly interested in properties located close to the stadium.
“We recently helped a buyer to purchase a conveniently located six- bedroom, three- bathroom house in South Townsville,” he said.
“While the buyer was keen on the size, the proximity to the stadium and entertainment districts was a bonus.
“As the stadium takes shape
AS THE STADIUM TAKES SHAPE AND BUILDING STARTS, THERE IS LIKELY TO BE INCREASED INTEREST IN THE SUBURBS THAT SURROUND THE STADIUM. BRAD MATHESON
and building starts, there is likely to be increased interest in the suburbs that surround the stadium.”
The redevelopment of the Adelaide Oval has been credited with reinvigorating the city centre.
In August 2008, the South Australian Cricket Association announced plans had been approved to redevelop the ground, expanding its capacity to 40,000. The stadium has spurred on new development, created a hugely popular small bar scene in Adelaide and greater demand for properties in nearby suburbs. It’s expected the Townsville stadium will have a similar impact on the city along with council’s Priority Development Area.
Urban futurist and former Adelaide mayor Stephen Yarwood, who has been a fierce campaigner of the benefits of a stadium in Townsville, said people wanted to be near infrastructure such as stadiums.
“A stadium works to make a city more desirable and then attracts people to live in areas in walking distance,” he said.
“Elements like this make modern living much more attractive and certainly attract a profile of people that brings vibrancy to an area. It creates desirability and adds to the contribution of multiple things that need to happen at the same time ( to increase property prices).”
Keys & Co property agent Tess Sellwood said that recently confidence had increased in city fringe areas.
“The city fringe in the last couple of weeks has had a lift in confidence,” she said. “The buyers we are seeing out in the marketplace are now from the interstate market and investors are certainly wanting to come to Townsville.
“Any good development will bring some new businesses to that space and it will transform that empty void of land. but I think recovery will be a combination effect and not necessarily a direct result of the stadium.”
CoreLogic analyst Cameron Kusher said the North Queensland stadium’s success would rely on it spurring on more developments and infrastructure.
“People always look for infrastructure but with a thing like a stadium it is a short period of time that is creating the jobs,” he said.
“It will depend on what happens on the back of that construction of the stadium.”